Sagoon Files for Regulation A+ (Mini-IPO) - Plans to Raise $20 Million starting February 2017
Company has already received more than $4.9 million in 'Indicated Interest' from Potential Investors
WASHINGTON, Jan. 10, 2017 /PRNewswire/ -- Sagoon (www.sagoon.com), a US based social commerce startup, announced the filing of a Regulation A+ (Mini-IPO) with the US Securities and Exchange Commission (SEC) to offer an investment opportunity mostly to a large pool of potential public investors who have already become a part Sagoon's users, fans and supporters.
Once the offering has been qualified by the SEC, the company plans to sell 869,564 shares of Class C Common Stock at $23 per share; the minimum investment will be 13 shares, costing $299. The offering will be conducted on a best efforts basis through our own website www.sagoon.com/invest, where the Offering Circular relating to the offering will be posted.
Govinda Giri, the founder of Sagoon, said, "I always wanted to offer this opportunity to my own community, and all those fans & supporters who believe in our dream, so that each one of them gets a chance to help us change the world and receives the potential financial benefits that Sagoon aims to share." He further added, "Thanks to the US JOBS Act of 2012, which makes it possible for us to have a positive impact on many sides of our society".
The company's legal counsel Sara Hanks of KHLK LLP is helping Sagoon Inc. on all legal matters related to Regulation A+ including filing a Form 1-A covering the offering with the SEC. Hanks is Co-Chair of the SEC's Advisory Committee on Small and Emerging Companies. Hanks, formerly an SEC attorney and general counsel to the US Congressional Oversight Panel on TARP, is also CEO of CrowdCheck, a Washington DC based compliance and diligence platform that services investment crowdfunding platforms.
"We believe that we are the pioneer of social media monetization, which the biggest challenge of existence in the social media landscape. Our mission is building a rewarding life through the innovative social path: Connect. Share. Earn. We believe this could be an excellent opportunity for anyone who believe in our mission. Currently, we are accepting 'indications of interest' from potential investors and once we are qualified by the SEC, people from India, US, Canada and other parts of the world- as long as legal in their country - will be able to convert their interest into investment," said Govinda.
Anyone willing to learn more about this opportunity can visit https://www.sagoon.com/invest and show his/her interest.
About Sagoon
Sagoon is an early-stage social commerce platform with the mission of offering everyone a chance to make money while socializing. The word "Sagoon" is derived from the Sanskrit word "Shakuna", meaning "an auspicious moment" or "good luck." Sagoon was first launched as a search engine in 2009, but later in 2014 developed into a social commerce platform.
For more information, visit www.sagoon.com.
No money or other consideration is being solicited in connection this press release, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement on Form 1-A is qualified pursuant to Regulation A of the Securities Act of 1933, as amended, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. Any person's indication of interest involves no obligation or commitment of any kind.
An offering statement on Form 1-A relating to these securities has been filed with the Securities and Exchange Commission but has not yet become qualified. You may obtain a copy of the most recent version of the preliminary offering circular with the following link.
https://www.sec.gov/Archives/edgar/data/1639953/000114420417000076/v455995_partiiandiii.htm
Contact: Govinda Giri, [email protected]
SOURCE Sagoon
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